After months of tension over what, if anything, the Securities and Exchange Commission was planning to do about cryptocurrencies and the billions of dollars people have sunk into initial coin offerings—a form of barely regulated investment vehicle in which investors trade real cash for tokens in crypto-backed…

The Securities and Exchange Commission launched a new cyber fraud unit earlier this year amid the internet’s ongoing Bitcoin boom, seemingly telegraphing its intent to crack down on a cryptocurrency market rife with hacking, fraud, and scams. The first thing on its agenda was likely always going to be initial coin…

A few weeks ago, Jordan Belfort—the notorious “Wolf of Wall Street” and convicted financial scam artist—warned the entire internet not to get into sketchy cryptocurrency-backed startups. Specifically, he warned that initial coin offerings, a form of almost completely unregulated investment vehicle where crypto-backed…

With the cryptocurrency market cap now estimated to be in the hundreds of billions of dollars and a sort of familiar frenzy kicking into overdrive, here’s another reminder that widespread adoption by the U.S. public has not yet materialized.

A hustler knows a hustle. So if you have ever considered sinking money into an initial coin offering—a complicated, barely regulated, and booming new form of financial vehicle where startups offer investors stakes in “new” cryptocurrencies rather than traditional stock—it might be a good idea to listen to what one of…